What are the six steps in developing a financial plan?
Answer to relevant QuestionsHow do your financial goals fit into your financial plan? Why should goals be realistic? What are three time frames for goals? Give an example of a goal for each time frame. How can an understanding of personal finance benefit you? Mia has $3,000 in assets, a finance company loan for $500, and an outstanding credit card balance of $135. Mia's monthly cash inflows are $2,000, and she has monthly expenses of $1,650. What is Mia's net worth? What are bonds? What are stocks? What are mutual funds? Describe how each of these provides a return on your investment. What is a budget? What is the purpose of a budget? How can a budget help when you are anticipating cash shortages or a cash surplus?
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